Brent Crude Oil Prices Increase, Dollar Plunge

On Monday, Brent crude oil prices increase, lifted by a drop in the greenback that could shoot demand just as assaults on Nigerian oil structure tighten up supplies, but indications of improving U.S. production capped increases.

Brent crude futures increase as peak as $50.10 but withdrew to be up 38 cents or 0.7% at $50.02 a barrel at 0700 GMT. U.S. crude futures were  increased  41 cents or 0.8%at $49.03 a barrel.

Traders stated oil prices increase on a sharp decline in the dollar on Friday after sluggish U.S. jobs data generated worries over the state of the world’s largest economy, reducing anticipations of a short term reduction in U.S. interest rates.

In the rest of the world, a weaker greenback supports fuel request, as it makes dollar-traded oil imports inexpensive.

On Monday,  ANZ bank stated, “The weaker U.S.-dollar drove commodity prices higher.”

On Monday,  the Muslim holy month of Ramadan begins and is seen as helpful of prices as motivating request gather in most Muslim dominated countries.

Traders stated prices were also strengthened by attacks on oil infrastructure in Nigeria, that has already dragged the country’s production to more than  20-year decline and which rebels stated could drop to zero rapidly.

Thus far, supply reduces like those in Nigeria or Libya, have been seen by increasing production in the Middle East, particularly Iran, which has been increasing its production after the end of international sanctions against it in January.

However,  Iran’s is returning to international oil markets more rapidly than anticipated, including by means of international tanker operators to transport its crude  and is fast hitting its maximum volume.

Which means that additional interruptions in worldwide supplies might not be rewarded by increasing Iranian production.

The price recovers, however, was covered for indications of increased production.

This week, U.S. energy companies added rigs drilling for oil for the 2^nd  time this year, energy services firm Baker Hughes Inc  stated  on Friday, as producers carefully upped activity after months of increasing prices.

Baker Hughes said in its closely followed report, “Drillers added nine oil rigs in the week to June 3, bringing the total rig count up to 325, compared with 642 a year ago.”

Morgan Stanley stated “While not enough to materially change the outlook for U.S. production … there are some early signs that rigs may be returning in the best acreage, namely the Permian Basin,”

U.S. crude oil output has dropped by 5.4% since January and by nearly 10%  since mid-2015 to 8.74 million bpd.

 

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Oil Prices Edge Lower Due To Stronger Dollar

On Monday, Oil prices were lower in quiet European trade, as a generally tougher U.S. greenback encouraged market players to lock in gains from a latest rally that took prices beyond the key $50-level.

Both Brent and WTI oil futures,  broken $50 late last week for the 1^st time since October as traders watched supply interruptions in Nigeria, Venezuela, France and Canada.

On Monday, the U.S. dollar increased to its peak level in over two months compared to a basket of main currencies after remarks by Federal Reserve Chair Janet Yellen upsurge the likelihood of a short term U.S. interest rate increase.

In statement made in the presence at Harvard University Friday afternoon, Federal Reserve Chair Janet Yellen stated a rate increase in the coming months “ would be appropriate,”  if the economy and labor market continue to progress.

A stronger dollar makes dollar-priced commodities extra costly for owners of other currencies.

Delivery of crude oil in July on the NYMEX shed 14 cents, or 0.28 percent, to trade at $49.19 a barrel by 07:52GMT, or 3:52AM ET.

Trading capacities are anticipated to be thin as the London and New York markets are shut down for a public holiday.

Lats Thursday, New York Mercantile Exchange prices rallied to $50.21, the peak since October 9. U.S. crude futures increase approximately 80 percent since dropping to 13-year lows at $26.05 on February 11 as a plunge in U.S. shale output increased sentiment.

According to Baker Hughes, oilfield services provider, the amount of rigs drilling for oil in the U.S. drop by two to 316 in the current reporting week, keeping up a broad trend of declines.

Somewhere else, on the ICE Futures Exchange in London, delivery of Brent oil in August  dropped 25 cents, or 0.5 percent, to trade at $49.70 a barrel.

Brent prices increased to $50.96 last Thursday , a level not met since October 12, as unintended supply interruptions in Africa and North America reduced worries over a worldwide surplus.

Brent futures prices have increased by approximately 85 percent since momentarily declining lower $30 a barrel in mid-February.

There will be OPEC meeting in Vienna on Thursday and market players will be looking forward to that. Most market experts anticipate the oil cartel to keep their output share unmoved amid increasing prices.

The oil cartel’s most current meeting in Qatar in April finished without a  contract to freeze production at recent levels because of Saudi Arabia’s persistence that Iran be part of the deal.

Temporarily, Brent’s premium to the West Texas Intermediate crude deal positioned at 51 cents a barrel, compared to a gap of 62 cents by the close of trade on Friday.

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Norway’s Oil Fund to Sue Volkswagen

Norway’s $850 billion oil fund is meaning to sue Volkswagen AG over its emission-cheating scandal that caused a recall of 11 million cars in the previous year.

The world’s largest sovereign wealth fund stated on Sunday that it plans to join the class-action lawsuits in Germany against the automaker, anticipated to be filed in the coming weeks.

Marthe Skaar, the fund’s spokeswoman said: “Norges Bank Investment Management intends to join a legal action against Volkswagen arising out of that the company provided incorrect emissions data.” The NBIM is assessed to have suffered big losses on its stake on VW after the scandal—a total of 4.9 billion crowns in the fund’s second quarter.

Skaar also added, “We have been advised by our lawyers that the company’s conduct gives rise to legal claims under German law. As an investor it is our responsibility to safeguard the fund’s holding in Volkswagen.”

The Norwegian wealth fund recently urged U.S. oil companies Exxon Mobile and Chevron to do more to report on climate change risks as well.

VW confessed that it had used sophisticated secret software in its cars to cheat exhaust emissions tests. This scandal led to the biggest earnings lost in VW history in 2015, prompting the company to set aside $18.2 billion to cover the costs.

“Something this big doesn’t just go away quickly and the costs are spiraling,” Joe Rundle, head of trading at ETX Capital, mentioned in a note. “And if the Norwegian fund is suing VW because the company’s actions led to losses on its investment, then it could open to door for other shareholders to seek redress.”

VW reached an almost $10 billion contract with the U.S. government in April to buy back or repair about a half million of its diesel cars and establish environmental and consumer compensation funds.

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The Dollar Move Higher Compared to Yen

On Monday,  the dollar pushes higher compared to the yen, although the euro stayed firm as markets processed Friday’s U.S jobs post and unsatisfactory trade statistics from China within a weekend. USD/JPY hit peaks of 107.70 and was previously at 107.53, up 0.4 percent for the day.

The U.S. dollar index, that measures the greenback’s strong point compared to a trade-weighted basket of six main currencies, increased 0.11 percent to 93.92, off Friday’s declines of 93.08. EUR/USD  slightly changed at 1.1399.

After data on Friday, the greenback  initially declined presenting that the U.S. economy additional occupations at the sluggish rate in seven months in April.

However,  the report also presented that one year monthly wage development increased the previous month.

The greenback was also supported after New York Federal Reserve President William Dudley stated on Friday that it was sensible to anticipate  two rate increase this year.

The yen display slight reaction when Japan’s Finance Minister Taro Aso stated on Monday that executives stayed prepared to mediate in the currency market if extreme changes in the yen are sufficient to move Japan’s trade or economy.

Compared to the yen last week,  the greenback decline to 18-month lows of 105.05 and the U.S. added Japan to a list of countries it was watching over foreign exchange rules.

Investors stayed watchful after record on Sunday displayed that China’s export and imports decline over the prediction in April.

The weak statistic highlighted worries over reducing domestic and overseas claim touching the world’s second biggest economy.

In the wake of the report, the Australian dollar was lesser, with  AUD/USD declines 0.38 percent  to 0.7340. China is Australia’s biggest trading companion.

The Aussie had already dropped over  3 percent the previous week when the country’s central bank reduces interest rates for the 1^st time in more than a year and reduced its inflation predictions in reaction to falling commodity rates.

On Additional News

On Monday, the Canadian currency hit three-week lows compared to the U.S. dollar as a massive wildfire in Alberta and a short domestic job post on Friday affected on the economic viewpoint. As the wildfire raging through Canada’s oil sands region in northeast Alberta since last Sunday continued, the loonie stayed stressed.

USD/CAD touches peaks of 1.2984, the best since April 18 and was last at 1.2978, increase 0.55 percent  for the day.

Economists have stated the interruption to production in the oil rich province could transport Canadian economic development to a halt  in the 2nd quarter.

After record on Friday, the Canadian currency had now declined  presenting that the county’s labor market caught up in April.

Statistics Canada reported that the economy suddenly lost 2,100 works the previous month as Alberta shed additional jobs in its natural resources sector because of the lower commodity rates.

Statistics on Monday, presented that Canadian housing beginning to drop beyond anticipated in April.

The Canadian Mortgage and Housing Corp stated the periodically adjusted yearly rate of housing begin to drop to 191,512 units in April from a downwardly reviewed 202,375 units in March.

The U.S. dollar  index, that gauge the greenback’s strong point compared to a trade-weighted basket of six main greenback’s, was increased 0.28 percent to 94.08, off Friday’s declines of 93.08.

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Pfizer To Announce Q1 Earnings Report

Pfizer was set to release its first quarter earnings report before the opening bell on  May 3, weeks after the merger with Allergan was called off.

Most of the market experts expect the US drug maker to have a revenue around $11.37 billion to $12.91 billion, while the consensus earnings per share played between $0.52 to $0.58.

In the previous earnings report, the pharmaceutical company had a revenue of $14.05 billion, beating the $13.56 billion consensus estimate. The posted earnings per share was $0.53, surpassing the projected EPS as well.

Evidently, the surge of the revenue on global vaccines by 45 percent to $1.92 billion contributed in the company’s total revenue. Also, Prevnar, Pfizer’s pneumonia vaccine rallied by more than a hundred percent. Prevnar has 6.4 billion courses of drugs sold annually at £100 per course.

In the coming quarterly financial report, shareholders may be interested if the company will increase or lessen its full-year guidance disclosed last February. Also, Pfizer has been expanding its clinical studies. The company introduced Ibrance, a highly advanced breast cancer drug in 2015, and its growth in sales for the first quarter of the year is expected.

The global established products of the company could have driven higher revenue in overseas markets during the first quarter despite the exposure to generic competition.

Meanwhile, Pfizer called off its merger plans with Allergan as the government issued new tax laws which could affect the transaction. Initially, the company wanted to move its tax base to Ireland through the deal since it could escape from the U.S. tax bills of its profits outside the U.S.

However, Smiths Group has expressed its interest to purchase the medical devices of Pfizer worth $2 billion. The engineering conglomerate may use the medical pump units of Pfizer to improve their medical devices division.

“Acquiring something from Pfizer – perhaps just pumps – would now be a very ambitious move. It would likely require a change of mindset from shareholders, but maybe an ambitious Smiths would be welcomed after a hiatus that lasted eight years” an analyst shared.

Earlier today, the shares of Pfizer edged lower at $32.72, a lost of 0.19 or 0.58  percent after opening at $32.87. It had a session high of 32.95 and a session low of 32.43 with a dividend yield of 3.67 percent. The stock has a market capitalization of $201.37 billion and a price earnings ratio of 29.43.

Pfizer has a 52-week price range between $28.25 to $36.46 and an outstanding shares  of 6.19 billion. It has a 50-day moving average of $31.38 and its 200-day moving average is $31.72.

The short interest  of the company declined 53.8 percent to 149,818,171 shares in total as of April 15. Moreover, the shares of Pfizer are short sold by 2.4 percent.The stock has received a strong Hold rating from 8 analysts while seven issued a Buy rating.

According to Ian Read, Chairman and Chief Executive Officer of Pfizer, the company remains focused on strengthening its  innovative and established businesses, and advancing its commercial and late-stage pipeline, while maintaining the financial flexibility to pursue attractive business development and other shareholder friendly capital allocation opportunities.

The pharmaceutical company may have higher long-term revenues if its new drugs will continue to grow until 2021. Pfizer has a strong pipeline and the largest drug manufacturer by sales value globally. Investors remained watchful on the next move of Pfizer after the earnings report.

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Apple Reveals Recent Plans For iPhones

Speculations spread regarding the changes and innovations related to the highly anticipated iPhone 8 over amid the sluggish sales of iPhones in this period.

Relatively, Apple announced its plan to lessen the production of iPhone 6s and iPhone6 plus by 30 percent  after its recent quarterly earnings report due to the expected slow down of sales.

In a report released in the media, the prominent multi-tech company apparently has pursued its plan. It has lessened the production until the second quarter of the year. The expected drop of the global smartphone sales this year could have been one of the reasons of Apple as well.

Are we expecting an all glass iPhone 8?

Apple is expected to turn back on its glass backed design for its next iPhone. An infamous tech analyst strongly claimed that the tech juggernaut will dispose the legendary aluminum casing.

The analyst explained that the company will be more strongly motivated to use non-aluminum casings in 2017 in a bid to enhance the competitiveness of iPhone by offering an all new form factor design.

Aside from the all glass enclosure, the new model of iPhone is believed to have an Active Matrix Organic Light Emitting Diode or AMOLED display panel. The shipment of the smartphones with AMOLED display has increased by 54 percent.

“A glass casing may be slightly heavier than an aluminum one of the same thickness, but the difference is so small that the use of the thinner and lighter AMOLED panel will compensate for that” the analyst added.

A senior director of IHS Technology revealed that since the interest of Apple with AMOLED, other companies such as Japan Display and Sharp disclosed their plan to invest in this type of display technology by 2018.

iPhone to last for three years?

Based on the report released by the California based company, iPhones and Apple watch can last for only three years while Apple TV devices and Mac computers have life expectancy of four years.

Apple considers the environmental effect of its devices in determining the intended life span and how quick the users upgrade their devices nowadays.

Recently, Apple recovered £28 million worth of gold after processing 90 million  pounds of unwanted electronics from old iPhones and iPads.

The company revealed that they’ve kept more than 597 million pounds of equipment out of landfills since 1994 and in 2015 they collected around 90 million pounds of e-waste through their recycling programs.

Moreover, the tech firm accumulated 6,612 pounds of silver, 2,953,360 pounds of copper and 101,000 pounds of steel. However, they made sure that the devices are recycled properly and they don’t pose a threat to human health or the environment. Apple also hoped that they will inspire others to do the same thing.

Apple stays on the downside

Shares of Apple dropped by 2.01  percent or 2.25 points to trade at $109.85 on earlier in the session with a market capitalization of 596.85 billion. Apple had an intraday high of 112.30 and an intraday low of 109.73 after opening at 112.11. Currently, the stock has a price earnings ratio of 11.67 and a dividend yield of 1.89 percent.

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Alibaba Lower After Acquisition and Strategic Plans

Alibaba failed to perform well in the market on Monday after its consecutive announcement of acquisition and investment plan over the weekend.

Alibaba and Bona Films

After the Chinese e-commerce juggernaut defeated Walmart as the leading retailer globally, Alibaba confirmed that it has taken more than 8 percent stake in Bona Films prior to the privatization of the Chinese film company to boost the development of the country’s film and television industry.

According to Alibaba Pictures Chief Executive Zhang Qiang, the Alibaba pictures wanted to make an ecosystem and platform covering the whole value chain of the film and TV industry which correlates with the mission and vision of Bona.

Prior to the bet of Alibaba on Bona Films, it invested in Tom Cruise’s infamous movie series Mission Impossible: Rogue Nation. Afterwards, Alibaba made a partnership with Paramount Pictures on the advertisement and promotion of the said movie in China.

Last year, Alibaba had a $4.2 billion worth of purchasing transaction with one of the biggest video sites in China, Youku Tudou. It was followed by its acquisition by one of the film and TV production giants in China Enlight.

Additionally,  Alibaba Pictures is on set to collaborate with David Ellison’s Skydance media to provide the financial needs of the first original movie to be featured internationally. The recent activities of the e-commerce giant is believed to be a clear indication of its growing interest in the entertainment business.

Alibaba and Mondelez International

Aside from financing Bona, Alibaba sealed a strategic business deal with American based multinational confectionery and beverage conglomerate company. Mondolex International announced that Alibaba Group would be its official partner in bringing its brands to the Chinese consumers through the e-commerce online marketplace.

Based on the statement released by Tim Cofer, chief growth officer of Mondolez, the capability of Alibaba to bring its brands to the Chinese consumers was what captured them. He said that snacking is a fast growing sector fro the e-commerce market in China and Alibaba is a powerful partner to help us capture our share of that growth by expanding our distribution channels and improving their brands accessibility in both rural and urban Chinese markets.

Jet Jing, Vice President of Alibaba Group, expressed his excitement towards the new strategic plan of the company . He commented that they want to help the American food and beverage company to utilize their e-commerce ecosystem and technology infrastructure to successfully build their brands and effectively reach the active buyers on their China retail marketplaces.

It was disclosed that the two companies will work together on branding and advertising solutions, consumer insight, product innovation, expansion of sales, cloud computing and distribution channels. Brands including Toblerone, Cadbury, belVita and Oreo will be available soon on the platform of Alibaba.

Alibaba Shares Fell

Shares of Alibaba changed hands lower at $77.50, a decline of 0.14 percent or 0.11 points with a market capitalization of $194.36 billion. The stock had an intraday high of 78.76 and an intraday low of 76.62  Currently, the price earnings ratio of the stock is 18.68.

The Chinese e-commerce has a 50-day moving average price of $73.72 and a 200-day moving average price of $73.91. Its 52-week low was at $57.20 and a 52-week high of $95.06. Alibaba has an average rating of Buy and a consensus price objective of $93.09.

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APPLE TO MARKET USED IPHONES IN INDIA, LOCAL RIVALS SAY NO

Apple’s attempt to sell used iPhones in India met different  speculations and criticisms as most of its local rivals  defied the plan of the tech giant over the weekend.

Considering that India is the second-largest mobile market, a lot of of industry executives encourage the government to decline the request of the American tech company.

In a letter released to the media, Ravnder Zutshi, Chairman Mobile and Communications Council questioned the attempt of Apple to import and sell refurbished phones. The chairman stressed out why they (the government) should not allow import of used phones when import of other goods such as cars are precluded by 300 percent duty levies.Mobile and Communications Council is composed of the biggest phone brands in India such as Samsung, Intel and Micromax.

The authorities which are against the movement of Apple restated the initiative of Prime Minister Narenda Modi to push local manufacturing in India. Meanwhile, a research director at Counterpoint research said that this attempt of the company is tied on its strategy as the smartphones market peaks in the country in the next few years.

Additionally, most its local rivals would not want the permission to be granted to Apple since it can put the local market at risks and might open the door for potential damage to the environment due to electronic waste.

Sunil Vachani of Dixon Technologies stated that millions of imported used phones will need their batteries replaced and he questioned where will those batteries go. He also reiterated that he is against any change in policy with regard to import of refurbished mobile phones.

For the record, four out of every five phones sold by Apple in India cost less than $150 while the branded smartphones are customer friendly at $35. Market experts believed that a number of foreign companies are on the move to make an Indian version of their phones as they widen their target customers. Relatively, the sales of Apple in India last holiday season went up to 76  percent.

Apple, which has at least 2 percent of the Indian market, may be hitting two birds at the same time if it will be given the permission to sell used phones in India. First, it won’t sacrifice the value of its prime products and second this might be the way to expand its market in the country.

Prior to the plan of the iPhone maker, it introduced its newest iPhone with an introducing price of $399. In relation to this, it might have 10 million worth of iPhone sales in 2017 . The market analysts thought that Apple might be using this strategy to back up its sales for the year as most of them estimated a lower income for the company.

On a lighter note, Apple celebrated its 4Oth year of providing one of the most innovative technological products. The firm happened to be the most valuable public corporation worldwide with $53 billion profit the previous year. The majority of the revenue of the company was generated from the sales of iPhones globally and as far as the market estimate is concerned, there are about 1 billion Apple devices sold around the world.

During the session earlier, Amazon traded higher at 598.50, an increase of 4.86 or 0.82 percent with a market capitalization of 279.42 billion dollars. The stock opened at 590.49 with an intraday high of 599.03 and an intraday low of 588.30. Currently it has a price earnings ratio of 482.61.

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Shares in Asia Sways; China’s 4 State-Run Banks to Release Earnings Report

Shares in Asia moved in different directions ahead of the annual earnings report of the banks in China and as the market on some countries closed for Easter Monday.

Japan

Stocks in Japan went up after the upbeat data of the Warehousing, Fishery and Pharmaceutical Industries. The Nikkei 225 increased by 0.77 percent as the stock market was closed in Australia, New Zealand and Hong Kong due to their respective holidays.

The MSCI’s broadest index of Asia Pacific shares outside Japan went down by 0.1 percent, however, Japan was still the major winner. Takashimaya Co. Ltd. increased by 48.0 points or 5.22 percent and settled at 968.0 while the Kawasaki Kisen Kaisha Ltd climbed by 10.0 points or 4.48 percent as it changed hands at 233.0. Additionally, J. Front Retailing Co., Ltd closed at 1514, up by 4.70 percent.

However, not all the stocks were on the upside. Sony Financial Holdings traded at 1500.0 losing 2.53 percent and Toshiba Corporation slumped by 1.30 percent when it settled at 205.6. In addition to the list was the Nippon Sheet Glass which fell 1.25 percent as it ended at 79.0. Behind all these, Nikkei Volatility was still high at 23.78 or 3.12  percent.

China

Shares in China traded lower as the market awaited for the annual earnings report  of the biggest state run banks of China. The Shanghai Composite Index declined by 0.7 percent to trade at 2,957.82 and the CS1300 index dropped 0.9 percent when it ended at 3,169.73. The CSI 300 Index is comprised of 300-A share stocks on the Shanghai or Shenzhen Stock Exchanges.

Aside from the indexes, the Gemdale Corporation and the Poly Real Estate slumped as well after the rumored control on the real state. Prior to the session, the financial regulators in Zhejiang inspected the real estate financing and posted warnings regarding the financial risks involved with the price increase of the properties around Nanjing and Suzhou for instance.

Meanwhile, four of the biggest state-run banks of China are expected to disclose their yearly earnings growth, which was expected to drop as bad debts remained high.

To start with, Bank of Communications Co Ltd will report its earnings on March 29. Then, the Industrial and Commercial Bank  of China together with Bank of China will disclose theirs on the next day. On Thursday it will be the turn of the China Construction Bank Corporation and Agricultural Bank.

An analyst released a projected net profit of 1 percent and at the same time, 1 percent of decline for China’s Big Four state-run banks. Alongside with this, the non-performing loans was already $195 billion based on the data released by the China Banking Regulatory Commission. Experts believed that the banks had been neglecting the current loan figures, whereas bad loan ratio could be at 8 to 9 percent.

Taiwan

As the Electricity and Iron & Steel section moved to the downside, shares in Taiwan ended lower at the session.

The Taiwan Weighted dropped by 0.17 percent at it settled at 8.690.45. Tpk Holding traded at 70.00 when it fell 8.85 percent or 6.80 points while the Chung Hung Ste lost 9.94  percent or 0.71 points to end at 6.43.

However, some of the stocks showed increase such as Eson which climbed by 3.45 points or 9.90 percent before closing at 38.30. Sintronic Tech added 0.70 or 9.99 percent when it changed hands at 7.71 percent, while Pec traded at 37.20, up by 3.35 or 9.90 percent and hit its 52-week high.

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Toyota improves leasing services, wins big in POVA

Toyota Motor Corporation widened its leasing option to its customers as the individual regions get their their dealers trained by the end of April.

Tom DeLuise, Toyota Motor Sales U.S.A. manager, confirmed that Toyota together with Scion off-lease vehicles take their services in the new level. On the other hand, Bill Fay, the division general manager of Toyota, said that they have got a record number of off-lease returns this year around 27, 500.

Last January, Toyota has introduced its leasing program around Northeast markets and the company  is set to come back with more than what the market expects. Currently, leasing in Boston has increased by 3 percent and the dealers expect it to jump for 7 to 8 percent before the end of the month. The company declared that they are contented with 4 to 6 percent climb in the  overall sales.

Through the leasing program, their dealers get the chance to deliver a pre-owned unit to their customers. Specifically, only the 3 model-years old units with a maximum  of 65,000 miles odometers qualify for leasing in 24 to 36 months. The said vehicles covers 1 percent of the overall sales of the Toyota Division since January and supported by the firm’s Financial Services.

The Japan based automotive company revealed that they were having a business discussion with their dealers and they were positive that they recognize the advantage of their program. Further to this, the firm hopes to make its leasing program competitive in the market and to accumulate expected revenue as its certified used vehicle sales meet Toyota’s goals.

Toyota estimated that in this year, the 2.6 million off-lease vehicles which returned to the market in 2015 will surge into 3.1 million and hopefully for 3.6 million the following year.

Toyota Division is celebrating its 20^th anniversary and plans to sell its 5 millionth certified used unit in 2016. For the record, the division was able to shift around 32,721 certified used Toyota brand vehicle  last month significantly lower than the 61,948 vehicles  it had sold in the first two months of 2015.

Last Friday, the shares of Toyota Motor Corporation slumped by 2.27 percent or 137.00 when it traded at 5,888.00 JPY in the market after opening at 6,013.00 JPY during the session. The stock had a session high  of 6,013 and a session low of 5,858 with a current market capitalization of 19.65 trillion yen. It has a price earnings ratio of 7.97 and a dividend yield of 3.82 percent.

The Japan based automotive industry has an earnings per share of 739.18 and an outstanding shares of 1,537,110,300. It has a 50-day moving average of $108.55 and a 200-day moving average of $117.9 and has outperformed S&P 500 in the past 52-weeks, but it has underperformed the index in one month basis. Also, the shares of the firm have declined by 26.64 percent in the 52-week period.

In other news, the Aichee Steel Corp, which is connected with Toyota Motor Corp has been in operation again after the suspension due to the January explosion. After the tragic scenario, Toyota paused its production, which affected 100,000 vehicles as the supply for steels and transmissions were cut short.

Meanwhile, Toyota was named as the number one Mainstream Brand and Premium Brand at the first annual Pre-Owned Value Awards (POVA). The award giving body recognizes the vehicles with an excellent consumer value.

Based on the statement released by Jim Nguyen, TrueCar EVP and general manager of ALG, the award identifies used vehicles which have the highest percentage of their value over the next three years. ALG, which powered the award, is well known on automotive residual value projections around North America.

Toyota Prius c won in Alt fuel, Toyota Corolla topped the Compact unit, Toyota Sequioa was on Full-size utility and Toyota Camry was the number one Midsize car. In addition to, Toyota Tacoma was the first spot in the Midsize pickup and Toyota FJ Cruiser on the Off-Road Utility.

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